Ferrari closed the third quarter with “double-digit growth and is heading towards a new record year”: net revenues amounted to 1.05 billion euros, up 18.6% compared to the previous year and by 15.1% compared to the third quarter of 2019. Total deliveries are 2,750, up 18.9% compared to the third quarter of 2020 and 11.2% compared to the third quarter of 2019.
Net income amounted to € 207 million, up 21%. The estimates with revenues greater than or equal to 4.3 billion euros (3.5 billion in 2020) have been revised upwards, “provided that operations are not impacted by restrictions due to the Covid-19 pandemic and on the basis of the following assumption: core business supported by volumes and mix; revenues from activities linked to Formula 1 in line with the expected racing calendar and reflecting the lower positioning in the 2020 championship compared to the previous year; activities linked to the brand conditioned by the evolution of Covid-19; operating and marketing expenses gradually increasing; industrial free cash flow supported by the improvement in net working capital “.
“Strong third quarter results are a major step towards revised upward 2021 guidance. Outstanding customer relationships, key to delivering double-digit growth this quarter and year to date, are reflected in record-level order intake. global, especially in China and the USA. These results, with the solidity of our vision and the team that I have the honor to lead, allow me to look to the future with great confidence and optimism “commented Benedetto Vigna, CEO of the Maranello company .
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Source From: Ansa
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